The role of the EU economic governance in the economic framework of the EU

Abstract

The purpose of this paper is to present the overview of the existing literature that examines the effectiveness of the EU economic governance in delivering on EU economic goals. This topic is especially important in the context of the ongoing Review of the economic governance of the EU, launched in October 2021, with the aim to present the recommendations for the further improvement of the EU governance framework. The overview of the existing literature on the effectiveness of the EU governance framework in delivering economic goals, for the period from 2011 to 2019 is focused on two equally important lines: 1. studies examining the relationship between the effectiveness of the governance in achieving economic goals; and 2. studies focused on the impact of the implementation of the policy recommendations on the economic performance of the Member States. Presented overview of the relevant literature shows that significant effort has been put in analysing the effectiveness of the EU governance model. However, complete assessment of the effectiveness of the EU governance model will benefit from further analysis of the impact of the European semester on the economic performance of the Member States and EU as a whole. The examination of this link is crucial for the comprehensive assessment of the role and relevance of the European semester both in the governance and economic framework of the EU.

Keywords

• eu
• economic governance
• effectiveness
• european semester